Stocks are at a tipping point in terms of the next 10-20% directional move and we’re heading into one of the weaker months of the year for seasonality. I’ll have more on that.
Investors bounced back with vigor last week as the S&P 500 and Nasdaq 100 put in their best shot at a rally out of the April lows as trading volume started to represent the possibility that investors are starting to trust the market to not pull the rug out from under them again.
That should all be tested and possibly confirmed this week as the quarter’s heaviest week of earnings results will flood the headlines.
This post originally appeared at Money Morning.